The Commun is closing. Details of the project
Unfortunately or fortunately, not all projects in the cryptoindustry are doomed to success. Some companies that look innovative are actually just garnering attention but failing to reach their own potential. And some, at first glance, promising products simply do not find their audience. One of these was the first and only social network built on the Blockchain. The Commun platform, which showed promise as a potentially successful and interesting project, today announced its own liquidation. Next, we will analyze the enterprise in detail, recall its essence and find out why Commun has not become a new round in the development of digital payments. So, without further ado, let’s get started.
Information about the project
According to the established tradition, first – theory, then – practice. Surely many of our readers, in principle, hear about Commun. That is why first you need to parse the details of the project. As you can see from the introductory paragraph, Commun developed the first social network on the Blockchain. Just think – a decentralized platform in which there is no strict moderation, and in the vastness of which everyone can express their opinion on various issues. It’s a great idea and a great tool for maintaining free speech. There are no restrictions, just ample opportunities to spread your own ideas, artistic ideas and create new acquaintances.
The idea is really amazing. Moreover, thanks to the introduction of internal tokens, it was planned to create a reward system. That is, an account on Commun, interesting to users, could bring serious income to its owner. Monetization, along with the advantages described above, should have attracted a huge flow of users.
However, at this point, the project has announced its closure. From the original online, which was about 6,000 active users, now only about 200 people enter the social network. This is certainly a small indicator of activity. And, due to the lack of proper attention to the project, Commun decided to cancel the launch of their own coin on exchanges. And also completely freeze the work on the project. But what exactly led to the drop in user interest? Let’s discuss this point in the next section.
Why did Commun fail?
In fact, there are several reasons. The creators of the platform themselves emphasize that they have misaligned priorities. Too high hopes were placed on the process of monetizing user generated content. However, as it turned out, clients are absolutely not interested in making money on the social network. The survey showed that the majority of users prefer other aspects of social platforms. Which were not in Commun. High competition also affected. Indeed, today it is difficult to imagine a social network that surpasses Instagram, Telegram or Twitter. It is quite possible that the maximum in creating communication tools has already been reached. That is why users did not find Commun competitive, and quickly turned away from the project.
However, the idea of developing a decentralized communication platform is still relevant. It is possible that the developers should not have reinvented the wheel, but simply improved the existing algorithms of popular sites. But now all initiative users have such an opportunity. The creators of the platform have opened access to the program files of the platform. Anyone can find a project on Github and start self-improving a potentially interesting project. All in your hands.
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